In Short

A roundup of today's other business news in brief

Tesco’s Irish arm helps drive 7.2% rise in third-quarter sales

Tesco, the world’s third largest retailer, said overseas markets including Ireland drove a 7.2 per cent rise in third-quarter sales and it was seeing a pick-up in demand in its main British market heading into the peak Christmas trading period. All European markets have reported underlying growth, for the first time in three years. – (Reuters)

Greencore in $3.4m On a Roll Sales deal

Listed food group Greencore has announced it has acquired Boston-based sandwich manufacturer On a Roll Sales Inc.

The gross assets of the business being acquired were $3.4 million.

Eoin Tonge, Greencore's group development director, said the acquisition would provide an extra revenue stream to its US "food-to-go" category and would complement its existing businesses in Newburyport and Cincinnati.

Mr Tonge said On A Roll Sales was a "well-diversified, growing business".

US treasury exits Citigroup

Shares in Citigroup rose yesterday, a day after the US government sold off its remaining stake in the bailed-out banking giant.

The US treasury said late yesterday that it had sold its 2.4 billion Citigroup shares at $4.35 each, finally unwinding a stake that had amounted to 27 per cent of the bank.

The sale closed a long and difficult chapter for Citigroup, which took $45 billion in three government bailouts.

Citigroup has said the government did not dictate business decisions to the bank and its executives. – (Reuters)